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Anil borrowed some money at the rate of 5 percent per annum for the first 2 years, 3 percent for the next 4 years and 4 percent per annum beyond 6 years.If the total interest paid by him at the end of 9 years is rupees 3400, how much money did anil borrow.
  • a)
    5000
  • b)
    8000
  • c)
    10000
  • d)
    12000
  • e)
    None of these
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Anil borrowed some money at the rate of 5 percent per annum for the fi...
Answer – c) 10000 Explanation : 3400 = p*(5/100)*2 + p*(3/100)*4 + p*(4/100)*3 = 3400
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Anil borrowed some money at the rate of 5 percent per annum for the fi...
Given:
- Anil borrowed money at different rates for different periods.
- Rate of interest for first 2 years = 5%
- Rate of interest for next 4 years = 3%
- Rate of interest for remaining years = 4%
- Total interest paid by Anil after 9 years = Rs. 3400

To find:
- The amount of money borrowed by Anil

Approach:
We can use the formula for simple interest to calculate the interest paid by Anil for each period of borrowing. Then, we can add up all the interest amounts to get the total interest paid by Anil. Finally, we can use the formula for principal + interest to find the amount borrowed by Anil.

Calculation:
Let the amount borrowed by Anil be 'P'.

Interest for the first 2 years = P * 5/100 * 2 = 0.1P
Interest for the next 4 years = P * 3/100 * 4 = 0.12P
Interest for the remaining 3 years = P * 4/100 * 3 = 0.12P

Total interest paid by Anil after 9 years = 0.1P + 0.12P + 0.12P = 0.34P

0.34P = Rs. 3400
P = Rs. (3400/0.34) = Rs. 10000

Therefore, Anil borrowed Rs. 10000.

Answer: Option (c) 10000.
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Anil borrowed some money at the rate of 5 percent per annum for the first 2 years, 3 percent for the next 4 years and 4 percent per annum beyond 6 years.If the total interest paid by him at the end of 9 years is rupees 3400, how much money did anil borrow.a)5000b)8000c)10000d)12000e)None of theseCorrect answer is option 'C'. Can you explain this answer?
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